This building, popularly known as Góngoras, is one of the most typical examples of the Madrid Baroque style from the second half of the 17^th century.  In 2012 it was declared an Asset of Cultural Interest.

The monastery of the Immaculate Conception was founded in 1663 by Juan de Góngora on some old vegetable gardens known as the Duke of Frías and it was one of the convents with the most land in Madrid. It was built in two phases: the first saw the beginning of the works on the convent and a small church, on which the final church would later be built.  In the second phase, the church was extended under the management of Manuel del Olmo who erected the dome and perfected and increased the decorative elements, whilst mostly maintaining the original layout

The convent is set around a central square cloister, leaving the church nave to one side with altarpieces in the lateral niches and a large dome, which is the main feature.